Global shares return to record high as Irma loses strength

By Marc Jones

LONDON  - World shares returned to a record high on Monday, on relief that hurricane Irma looked to be losing strength in the United States and that North Korea's anniversary celebrations at the weekend passed without any new missile test.

MSCI All Country World Index, which tracks roughly 2,400 stocks in 47 countries, climbed a new pe

Global stocks dip, yen gains after North Korea test

By Patrick Graham

LONDON  - Stock markets fell and the yen, gold and sovereign bonds rose on Monday as North Korea's most powerful nuclear test provoked a knee-jerk shift to safe havens.

Sunday's test, and reports from Seoul that Pyongyang was making preparations for another missile launch, sparked another warning from Washington and drove South

UK opposition Labour backs soft Brexit, putting pressure on May

By Paul Sandle

LONDON,  - The opposition Labour Party says it would keep Britain in the European single market and customs union for a transitional period after Brexit, offering a clear alternative to the policies of Prime Minister Theresa May.

The centre-left party would seek to maintain the "same basic terms" with the European Union, includi

27/08/2017 12:26:04 PM | Posted in World Market More News read full news
Britain to urge EU to show "imagination" in Brexit talks

LONDON  - Britain will urge the European Union on Monday to show "imagination" in Brexit talks and help focus discussion on future ties rather than on a divorce settlement.

Brexit minister David Davis will call on the EU to be more flexible in its approach at the start of negotiations with the bloc's chief negotiator Michel Barnier on Monday -- the

Sterlite to Investment $1 billion annually in Brazil power lines - source

SAO PAULO  - India's largest power transmission company Sterlite Power Grid Ventures Ltd  will invest around $1 billion per year in the next few years to build power lines in Brazil, a source with direct knowledge of the plan told Reuters on Wednesday.

The source, who asked not to be named because he is not authorized to speak publicly about the plan, sa

24/08/2017 9:22:17 AM | Posted in World Market More News read full news
China`s July exports, imports weaker than expected cloud global outlook

BEIJING  - China's exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programmes.

China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus poli

Global stocks reach new peak in world full of surprises

By John Geddie

LONDON - World stocks breached record highs on Monday as better-than-expected company earnings and economic data from the United States stole the focus from rising geopolitical tension over North Korea's nuclear programme.

The U.S. dollar dipped slightly but held on to most of Friday's gains - its biggest daily rise this year - made af

China bank watchdog to tighten risk control amid regulatory shake-up

SHANGHAI  - China's banking regulator will tighten control over risks in the financial markets, work more closely with the central bank and other regulators, and "resolutely follow" the leadership of a newly-formed financial stability committee, it said late on Monday.

The China Banking Regulatory Commission's comments come after President Xi Ji

JPMorgan reports 13 pct rise in quarterly profit

JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 13.4 percent increase in quarterly profit on Friday as gains from higher interest rates more than offset a drop in bond trading.

The bank's net income rose to $7.03 billion in the second quarter ended June 30 from $6.20 billion a year earlier. Earnings per share rose to $1.82 from $1.55. 

Analysts

Dollar treads water, U.S. inflation data awaited for Fed direction

By Shinichi Saoshiro

TOKYO - The dollar trod water against a group of peers early on Friday, as currency investors remained cautious ahead of U.S. inflation data due later in the session, which is expected to set the greenback's near-term direction.

The U.S. currency's recent advance, notably against the yen, has stalled towards the end of this week

OPEC, non-OPEC July meet to take no decisions: Algeria energy minister

ISTANBUL - A joint meeting of OPEC and non-OPEC nations in Russia later this month will only discuss the oil market but will take no decisions, Algerian Energy Minister Mustapha Guitouni said on Wednesday.

"The (global oil output cut) decision had already been taken until March 2018," he said during an international energy forum. "Algeria's current

12/07/2017 3:22:36 PM | Posted in World Market More News read full news
U.S. households see spending up, job prospects improving: NY Fed survey

WASHINGTON - Consumers expect to boost spending in the months ahead and voiced confidence they are more likely to find a job and less likely to lose one in a strong labor market, the New York Federal Reserve reported Monday in its latest monthly survey of consumer expectations.

Nearly 35 percent of the 1,300 heads of household included in the June poll said they were

Central bankers want communication, not coordination

FRANKFURT - There is no behind-the-scenes pact between powerful central bankers to tighten policy but the potent effect their actions have on financial markets means they want a deeper understanding of each others' motivations, officials told Reuters.

European Central Bank President Mario Draghi renewed his long-standing wish last week for more talks between globa

As anti-G20 protests begin, Merkel says growth must be inclusive

BERLIN - With an eye on anti-globalisation protests brewing in Hamburg before this week's G20 summit, Chancellor Angela Merkel said on Sunday leaders will have to focus on sustainable and inclusive economic growth rather than their own prosperity.

In her weekly podcast, the German chancellor said this year's G20 summit will delve into issues championed by prot

2/07/2017 4:41:21 PM | Posted in World Market More News read full news
Printing money would trigger painful South Africa recession - central bank governor

JOHANNESBURG  - South Africa risks slipping into a long and painful economic recession if the central bank is forced to abandon its policy of reducing inflation and protecting the currency, Reserve Bank governor Lesetja Kganyago said on Sunday.

In an editorial article published in the Sunday Times newspaper, Kganyago said the recent recommendation by an anti-graf

2/07/2017 4:40:08 PM | Posted in World Market More News read full news
Japan's Konica Minolta plans to buy U.S. cancer test firm - Nikkei

TOKYO  - Japanese office equipment maker Konica Minolta Inc plans to acquire U.S. healthcare firm Ambry Genetics Corp to diversify its business, the Nikkei daily reported on Sunday.

The acquisition will likely cost around 100 billion yen ($890 million) and be Konica Minolta's most expensive, reflecting its ambition to branch out into healthcare as its printer

2/07/2017 2:57:42 PM | Posted in World Market More News read full news
China, Hong Kong confirm Bond Connect Northbound trading begins Monday

HONG KONG - The central banks of China and Hong Kong on Sunday said non-mainland investors can start trading Chinese corporate bonds in a trial beginning on Monday, confirming a calendar entry that appeared on the "Bond Connect" programme website late on Friday.

Trading will initially be "Northbound", so mainland investors will be not yet be a

2/07/2017 2:55:17 PM | Posted in World Market More News read full news
Big pharma turns to artificial intelligence to speed drug discovery, GSK signs deal

LONDON  - The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline unveiling a new $43 million deal in the field on Sunday.

Other pharmaceutical giants including Merck & Co, Johnson & Johnson and Sanofi are also exploring the potential of artificial in

2/07/2017 2:52:31 PM | Posted in World Market More News read full news
ECB working on move away from ultra-easy policy - Jens Weidmann

FRANKFURT  - The European Central Bank is working on moving away from its ultra-easy monetary policy, Jens Weidmann, head of Germany's Bundesbank and a member of the ECB's rate-setting body, said on Saturday.

Investors are watching for any sign that the ECB may reduce its stimulus, which includes massive bond purchases and ultra-low rates, after a hint in

BMW to make Mini electric car plant decision by end-September

CHICHESTER, England  - BMW will decide whether to build its new electric Mini car in Britain or elsewhere by the end of September, its board member for sales told Reuters, in a test of the country's ability to continue to attract investment as it leaves the EU.

Mini makes around 70 percent of its approximately 360,000 compact cars at its Oxford plant in south

2/07/2017 2:44:35 PM | Posted in World Market More News read full news
Hyundai to recall over 43,700 cars in China

Hyundai Motor Company will recall 43,764 of its vehicles in China over a fault which may lead to potential engine failures, quality control watchdog announced on Sunday.

According to the General Administration of Quality Supervision, Inspection and Quarantine, the affected vehicles are the Santa Fe models with 2.4-litre Theta GDI engines manufactured between November 29, 2012, and May

Time may be nearing for ECB stimulus exit: Weidmann - paper

The time may be nearing for the European Central Bank to start discussing the end of unprecedented stimulus as growth and inflation are both moving in the right direction, Bundesbank president Jens Weidmann told German newspaper Welt am Sonntag.

Weidmann, who sits on the ECB's rate-setting Governing Council, also said that the bank should not make any further changes to the key pa

UK to maintain duty-free access for developing countries after Brexit

Britain said it will maintain duty-free access to its markets once it has left the European Union for goods from nearly 50 developing countries including Bangladesh, Sierra Leone and Haiti.

The government said around 48 countries would continue to benefit from tariff-free exports on all goods other than arms and ammunition to the UK and that once it had left the EU in 2019 it would ex

U.S. lawmakers urge Trump to press Modi on trade, investment

Leading U.S. congressmen have called on President Donald Trump to press Indian Prime Minister Narendra Modi to remove barriers to U.S. trade and investment when they meet for the first time on Monday.

The lawmakers, from the Republican and Democratic parties, said in a letter to Trump that high-level engagement with India had failed to eliminate major trade and investment barriers and

China doles out $100 million punishment to Russian-controlled fund for role in 2015 crash

A Chinese court meted out a nearly 700 million yuan ($102.4 million) punishment to a Russian-controlled high-frequency trading firm for futures market manipulation on Friday, drawing a line under one of the most high-profile cases of misconduct Beijing blames for contributing to the 2015 stock market crash.

The verdict by the Shanghai No. 1 Intermediate People's Court, posted on i